Match Plunges 22% after Sales Forecast Falls Short on Slower Growth

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Match Plunges 22% after Sales Forecast Falls Short on Slower Growth

Bloomberg2022-08-03

Match Group Inc. gave a forecast for revenue in the current quarter that fell far short of analysts’ estimates with growth stymied by continuing fallout from Covid-19 and a strong dollar weighing on ...

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T202311701
·2022-08-03
Oo
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AA_EhhEhh_88
·2022-08-03
lke
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ElvisLHS
·2022-08-03
Read...pls like. Thanks in advance
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Bash
·2022-08-03
Like pls, thank you
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Ku9787
·2022-08-03
Buy dip
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ccy1122
·2022-08-03
[OK] [OK] [OK] [Like] [Like] [Like]
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Thonyaunn
·2022-08-03
Gd
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rhengheng
·2022-08-03
Gggg
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DennisMe
·2022-08-03
Ok
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NewInvest
·2022-08-03
[Like]
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Worpeng2002
·2022-08-03
Ok
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kevinlaisq
·2022-08-03
Pls like
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SmileBaby
·2022-08-03
K
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Williamw
·2022-08-03
Ok
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sunflower19
·2022-08-03
Ok
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不怕死
·2022-08-03
Thanks
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BlueDragon
·2022-08-03
Ok
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陈河马
·2022-08-03
Wow
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The company said currency fluctuations would have an 8 percentage point effect on revenue.“Although the overall market opportunity remains substantial, the current environment is presenting some unique trends related to consumer behavior,” Chief Executive Officer Bernard Kim said Tuesday in a letter to shareholders. “While people have generally moved past lockdowns and entered a more normal way of life, their willingness to try online dating products for the first time hasn’t yet returned to pre-pandemic levels.”Match has faced multiple challenges this year, including a senior leadership change, a legal battle with Alphabet Inc. over the Google Playstore, lagging growth due to Covid-19 restrictions and a strong dollar weighing on foreign sales. Kim replaced Shar Dubey as CEO after she stepped down at the end of May. Dubey served various roles at the company over 16 years, leaving shortly after the company missed first-quarter revenue estimates and announced a round of share buybacks.Match also announced Tuesday that Renate Nyborg was leaving as chief executive officer at Tinder, the largest unit. The company is searching for a permanent replacement, Kim said.“We need some time for the new Tinder team to improve execution and see how they deliver on their product road map,” Kim said in the letter. “We’re optimistic that the changes we’ve made at Tinder will lead to improved product execution and velocity, monetization wins and enhanced user growth.”Match has been expanding its presence abroad too, with Hinge’s launch in Germany and the acquisition of South Korean video conferencing company, Hyperconnect. 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Thanks in advance&nbsp;","listText":"Read...pls like. Thanks in advance&nbsp;","text":"Read...pls like. 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